Property inspections and related costs
"Discover the importance of property inspections and the costs associated with them. Learn about the different inspection types and what they cover
When it comes to buying or selling a property, property inspections are an essential step in the process.
Not only do they give buyers and sellers peace of mind, but they can also uncover potential issues that could cost thousands of dollars in repairs.
However, it’s important to understand the costs involved in a property inspection before making a decision.
The Costs and Benefits of Property Inspections
When it comes to property inspections, the cost can vary depending on the type of inspection and the size of the property.
A basic home inspection can cost anywhere from $300 to $500, while a more comprehensive inspection, such as a structural or roofing inspection, can cost upwards of $1000.
These inspections might feel expensive but can save you thousands in the long run by uncovering potential issues before they become major problems.
Is home inspection required?
Many lenders require a home inspection before approving a mortgage loan, so it’s best to budget for this cost ahead of time.
Want to find out how we can assist you to buying your first property?
Types of property Inspections
When buying a house in Australia, there are several types of inspections that may be recommended or required, each with its own associated cost.
These inspections include:
Building and pest inspection:
This inspection assesses the condition of the property, including the structure, roof, walls, floors, and any visible signs of pests or termites.
The cost for this inspection can range from $300 to $600.
Strata inspection:
This report provides information about the condition and management of the strata scheme, such as the condition of common property, insurance, and any outstanding repairs.
The cost for this inspection ranges from $200 to $500.
Electrical inspection:
This inspection assesses the condition of the electrical wiring and appliances in the property.
The cost for this inspection ranges from $200 to $400.
Plumbing inspection:
This inspection assesses the condition of the plumbing and any visible signs of leaks or damage.
The cost for this inspection ranges from $200 to $400.
Pool inspection:
This inspection assesses the condition of any swimming pools or spa on the property, including fencing, pool cover, and pool pump.
The cost for this inspection ranges from $200 to $400.
It’s important to note that these costs are approximate, and may vary depending on the location, size of the property, and the specific inspection services provided.
